As the value of cryptocurrencies gain, so do the risk of loss due to scams, hacks and human error.
According to Chainalysis, phishing scam losses reached up to $225 million last year. Over 30,000 investors have been scammed in crypto-related cybercrime with investors losing an average of $7,500, Chainalysis estimates.
Security should be of critical importance when it comes to trading and holding cryptocurrency. Which is why the market has flooded to purchasing and storing their crypto assets onto offline hardware wallets. Hardware wallets refers to keeping digital assets completely offline, disconnected from the Internet.
Since Bitcoin and Ethereum are digital assets, there is increased risk of theft when they are stored online. Therefore by using a hardware wallet, the users’ risk of losing their cryptocurrencies are greatly diminished.
In the past few months, the hardware wallet industry has seen the demand skyrocketing supported by robust growth in cryptocurrencies market cap and also the rising fear of easily losing such valuable assets Three hardware wallet industry leaders have come to dominate the market: Trezor, Keepkey and Ledger.
Giza hopes to tap into this rising market by bringing an all-in-one wallet and password manager with multiple key features in one gadget. With a focus on ease and security, users don’t need to leave funds on an exchange.
Gize supports Bitcoin and Ethereum together with a wide variety of popular digital assets including Ark, Bitcoin Cash, DASH, Ethereum Classic, Litecoin, Dogecoin, Komodo, Ripple, Stratis, Zcash, PoSW and other blockchain-based currencies. The entire list can be found in the FAQ section at gizadevice.com
The retail price of a Giza Device won’t exceed $80 and their business model strategy is simply: sell volume. Amid heightened interest in the concept of cryptocurrencies, a simple, user-friendly hardware wallet will undoubtedly reach wider adoption. The company plans to go for retail, online and physical and wholesale channels, institutional and retail distribution.
Giza has decided to launch its own GIZA token as an ERC 20 token on the Ethereum network. A GIZA token will represent a unit of value of the software license. A holder of a GIZA token may lease their license right to future GIZA Device users and be entitled to income from the company.
The crowd-sale will last until August 2018.
The GIZA Token Distribution will aim to raise $3 mln during Pre-TDE.
This amount will be spent on the Giza Device development, which is going to be finished within 6 months starting from the date of Token Launch.